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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 30, 2023
Dec. 31, 2022
Dec. 25, 2021
Operating activities:      
Consolidated net income $ 609,649 $ 662,820 $ 475,124
Reconciliation of consolidated net income to net cash provided by operating activities:      
Depreciation 34,949 38,157 39,120
Amortization of intangibles 5,005 5,574 6,270
Amortization of debt issuance costs 870 357 265
Loss (income) from unconsolidated affiliates 14,821 (10,111) 157
Insurance proceeds - noncapital related 9,854 1,646 0
Redemption premium 0 0 5,674
Gain on sale of securities (17,100) 0 0
Gain on insurance settlement (19,466) 0 0
Stock-based compensation expense 23,131 17,801 9,822
Provision for doubtful accounts receivable (84) 323 1,216
Gain on disposals of assets (1) (6,373) (769)
Gain on sale of businesses (4,137) 0 (57,760)
Unrealized gain on short-term investments (24,765) 0 0
Impairment charges 6,258 0 2,829
Gain on extinguishment of NMTC liability (7,534) 0 0
Deferred income tax expense (benefit) 4,790 (3,880) 7,413
Changes in assets and liabilities, net of effects of businesses acquired and sold:      
Receivables 30,915 82,713 (124,708)
Inventories 67,903 (24,189) (119,514)
Other assets (20,700) (8,971) 919
Current liabilities (40,606) (26,633) 73,755
Other liabilities (3,497) (7,564) (5,467)
Other, net 2,511 2,273 (2,645)
Net cash provided by operating activities 672,766 723,943 311,701
Investing activities:      
Proceeds from sale of assets, net of cash transferred 279 7,850 2,302
Purchase of short-term investments (106,231) (217,863) 0
Acquisition of businesses, net of cash acquired 0 0 (30,206)
Proceeds from sale of business, net of cash sold 0 0 81,884
Capital expenditures (54,025) (37,639) (31,833)
Payment received for (issuance of) notes receivable 0 0 8,539
Insurance proceeds - capital related 24,646 3,354 0
Proceeds from the sale of securities 55,454 0 0
Proceeds from the maturity of short-term investments 217,863 0 0
Dividends from unconsolidated affiliates 1,093 2,295 0
Investments in unconsolidated affiliates (3,999) 0 (1,613)
Net cash provided by (used in) investing activities 135,080 (242,003) 29,073
Financing activities:      
Dividends paid to stockholders of Mueller Industries, Inc. (66,868) (55,787) (29,137)
Dividends paid to noncontrolling interests (9,312) (7,248) (9,722)
Issuance of long-term debt 0 0 595,000
Repayments of long-term debt (241) (204) (920,610)
(Repayment) issuance of debt by consolidated joint ventures, net (30) 67 (5,113)
Repurchase of common stock (19,303) (38,054) (4,864)
Payment of contingent consideration 0 0 (1,250)
Net cash (used) received to settle stock-based awards (8,755) (1,429) 85
Debt issuance costs 0 0 (1,111)
Net cash used in financing activities (104,509) (102,655) (376,722)
Effect of exchange rate changes on cash 5,590 (4,365) (1,052)
Increase (decrease) in cash, cash equivalents, and restricted cash 708,927 374,920 (37,000)
Cash, cash equivalents, and restricted cash at the beginning of the year 465,296 90,376 127,376
Cash, cash equivalents, and restricted cash at the end of the year $ 1,174,223 $ 465,296 $ 90,376

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